Digital asset exchange Gemini has launched a new interest-earning program called “Gemini Earn.” According to the company, Gemini Earn allows customers to earn up to 7.4% APY on cryptocurrencies.
Crypto investors may earn interest on cryptocurrencies via the Gemini platform and the product is available in all 50 states. Gemini claims that it currently offers one of the highest yields of competitive crypto interest offerings and the most flexible redemption policies.
Tyler Winklevoss, CEO of Gemini, said that today’s investors know that a diverse portfolio includes crypto:
“We designed a program that allows our customers the ability to generate a real return on their crypto holdings without having to sell one of the best performing asset classes of the decade.”
As a New York-based Trust company, Gemini’s custody and exchange solutions also integrate seamlessly with Gemini Earn.
The launch of Gemini Earn follows the news that Gemini customers will soon be able to earn cryptocurrency rewards on their everyday purchases with the new Gemini Credit Card, which provides exposure to crypto without changing consumers’ daily behavior.
Noah Perlman, Chief Operating Officer at Gemini, said they are seeing demand from both crypto and “crypto curious” customers as a way to get into this “boom.”
“Gemini allows our customers the ability to invest for the long term while also easily putting their money to work and reward themselves today with high-yield products like Gemini Earn.”
Gemini Earn is rolling out now and is expected to be available to all customers this month. There is no minimum requirement and Gemini anticipates it will expand Gemini Earn to bear interest on the Gemini dollar, Gemini’s stablecoin with 1:1 peg to the U.S. dollar.